Cross Timbers Royalty Trust Declares October Cash Distribution

2012-10-19 10:40 ET - News Release

DALLAS, Oct. 19, 2012 /PRNewswire/ -- U.S. Trust, Bank of America Private Wealth Management, as Trustee of the Cross Timbers Royalty Trust (NYSE – CRT), today declared a cash distribution to the holders of its units of beneficial interest of $0.186183 per unit, payable on November 15, 2012, to unitholders of record on October 31, 2012. The following table shows underlying oil and gas sales and average prices attributable to the current month and prior month distributions.

Underlying Sales

Volumes

Average Price

Oil

(Bbls)

Gas

(Mcf)

Oil

(per Bbl)

Gas

(per Mcf)

Current Month

18,000

161,000

$ 86.01

$ 5.34

Prior Month

15,000

153,000

$ 80.13

$ 4.46

Excess Costs

XTO Energy has advised the trustee that higher oil prices and decreased production expenses led to the full recovery of excess costs and accrued interest on properties underlying the Texas Working Interest net profits interest, which is again contributing to the current month distribution.